The City Council was briefed Monday on Housing Finance Corporations (HFC) and Public Facility Corporations (PFC) and how they can address the needs identified in the City’s Housing Needs Assessment. The assessment was commissioned by the City in late 2024 to identify current and future housing needs specific to Richardson. Reviewing and discussing the next steps in the assessment was one of the tactics adopted by the City Council for its 2025-27 term.
HFCs and PFCs are funding mechanisms that could address the third item on the assessment’s housing needs list: More well-maintained rental housing units that can be available to a wider range of income levels.
On Monday, representatives from Hilltop Securities and Chapman and Cutler provided the Council with a base level understanding of HFCs and PFCs in advance of a future discussion of Richardson specific considerations.
